Boyd Gaming (BYD) to Post Q3 Earnings: What's in the Offing?
Boyd Gaming Corporation BYD is scheduled to report third-quarter 2023 results on Oct 24, after the closing bell. In the last reported quarter, the company’s earnings beat the Zacks Consensus Estimate by 1.3%.
Q3 Estimates
The Zacks Consensus Estimate for third-quarter earnings is pegged at $1.44 per share, indicating a decrease of 2.7% from $1.48 reported a year ago. The consensus mark for revenues is pegged at $873.2 million, suggesting a decline of 0.5% from the prior-year figure.
Factors to Note
Boyd Gaming’s third-quarter 2023 results are likely to be affected by bleak Food and Beverage, Online and Room revenues. Our model predicts Food and Beverage, Online and Room revenues to dip 10.8%, 16.6% and 9.6% year over year to $60.4 million, $43.3 million and $42.2 million, respectively.
However, robust demand for sports betting, an improvement in destination business and pent-up demand for non-gaming amenities are expected to have aided the company’s results. BYD has been witnessing a solid performance by the interactive gaming platform. Thanks to the strategic partnership with FanDuel, management is optimistic regarding its future in the iGaming industry. Our model suggests third-quarter 2023 gaming revenues to increase 3.3% to $690.2 million.
On the flip side, higher expenses across project development, preopening and writedowns, Online, as well as Food and Beverage are likely to have negatively impacted the bottom line.
Boyd Gaming Corporation Price and EPS Surprise
Boyd Gaming Corporation price-eps-surprise | Boyd Gaming Corporation Quote
What Our Model Indicates
Our proven model predicts an earnings beat for Boyd Gaming this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
Earnings ESP: Boyd Gaming has an Earnings ESP of +2.48%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Boyd Gaming currently carries a Zacks Rank #3.
Other Stocks Poised to Beat Earnings Estimates
Here are some other stocks from the Zacks Consumer Discretionary space that investors may consider as our model shows that these too have the right combination of elements to post an earnings beat.
MGM Resorts International MGM has an Earnings ESP of +10.83% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of MGM Resorts have improved 9.8% in the past year. MGM’s earnings surpassed the consensus mark in three of the four quarters and missed once, the average surprise being 105.7%.
Marriott International, Inc. MAR has an Earnings ESP of +4.23% and a Zacks Rank #3.
Shares of Marriott have jumped 29.6% in the past year. MAR’s earnings outpaced the consensus mark in each of the trailing four quarters, the average surprise being 5.5%.
Hilton Worldwide Holdings Inc. HLT has an Earnings ESP of +5.35% and a Zacks Rank #2.
Shares of Hilton have climbed 18.3% in the past year. HLT’s earnings outshined the consensus mark thrice in the trailing four quarters and missed once, the average surprise being 12.5%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
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Marriott International, Inc. (MAR) : Free Stock Analysis Report
MGM Resorts International (MGM) : Free Stock Analysis Report
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
Hilton Worldwide Holdings Inc. (HLT) : Free Stock Analysis Report
